There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property.
Taxpayers that need to complete a Self-Assessment return for the first time should inform HMRC as soon as possible. The latest date that HMRC should be notified is by 5 October following the end of the tax year for which a Self-Assessment return needs to be filed. If you have missed this deadline for the 2020-21 tax year you should still notify HMRC and register as soon as possible. You should also ensure that you file your 2020-21 tax return and pay any tax due by 31 January 2022.
In certain circumstances, HMRC may also ask taxpayers to complete tax returns. HMRC has an online tool www.gov.uk/check-if-you-need-tax-return/ that can help you check if you are required to submit a Self-Assessment return.
The list of taxpayers that are usually required to submit a Self-Assessment return includes:
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